Baseball Cards Enter the Stock Market

Baseball cards and Bazooka candy are the latest to hitch to the SPAC wagon with Topps planning on going public. 

Topps, best known for trading cards, is working with Mudrick Capital Acquisition Corporation and has been valued at $1.3 billion. 

Former Disney CEO Michael Eisner will continue on as Topps’ chairman, as the company plans to trade on the Nasdaq under the ticker TOPP.  

Eisner said on CNBC early this week that Topps opted to go public via SPAC because of the flexibility and limited distraction to management. 

While the company is best known for trading cards, it has recently branched out into interactive mobile apps to connect collectors and has started offering NFTs.  

Eisner said, “This is the icing on the cake, going digital completely, with the analog still in place.” 

Other companies, including Taco Bell and Atari, have also jumped on the NFT bandwagon, but Eisner said that the deal was struck before the recent explosion in NFTs.

Topps also has a gift cards business under the name Topps Digital Services, where it works with companies like Netflix, Airbnb, and Nike. 

Its candy segment includes brands like Bazooka, Ring Pop, and Baby Bottle Pop and accounts for 35% of the company’s sales.